615 N ARROWHEAD Drive, Chandler, AZ 85224
$920,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$920,000
List Date:
10/11/2024
Last Modified:
12/17/2024
Description
4 units- 2Br/1 Ba-single level**Each unit has covered patio surrounded w/block wall, storage/laundry room of patio** Most tenants have been in several years** Well maintained, block construction/stucco building sitting on large, deep lot with assigned covered parking plus extra-also parking on street permitted **Roof was resurfaced in 2013 **3 HVAC units are under 2 yrs old, one is older**Water heaters are 4 to 6 yrs old**Tile flooring in 4 units , **The Unit #1 is about 50 sq ft larger than other 3 , has Fireplace, **Tenants pay electric, owner pays water/sewer/trash **Excellent location: few blocks away from large Arrowhead park w/pool, picnic areas, sport fields**Shopping, restaurants, lake -less than 1 mile, frwys 101 and 202- about 2 miles *** This building has 3678 Sq Ft livable
More Information MLS# 6768933
Contract Info
Ownership: Fee Simple
Current Price: $920,000
Sold Price: $920,000
Status: Closed
List Date: 2024-10-09
Location, Tax & Legal
Assessor's Map #: 48
Legal Description (Abbrev): LOT 128 COLONIA GRANADA UNIT 5 MCR 022205
Assessor's Parcel #: 806
Add'l Parcels: No
Tax Municipality: Chandler
Census Tract: 523006
Taxes: 1644
Legal: LOT 128 COLONIA GRANADA UNIT 5 MCR 022205
Marketing Name: great income property
House Number: 615
Compass: N
Street Name: ARROWHEAD
St Suffix: Drive
City/Town Code: Chandler
State/Province: AZ
Zip Code: 85224
Zip4: 3579
County Code: Maricopa
Subdivision: COLONIA GRANADA UNIT 5
Assessor Number: 302-48-806
Tax Year: 2023
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 199.82' x 60.81'
Flood Zone: No
Total # of Units: 4
Elementary School District: Chandler Unified District
High School District: Chandler Unified District
Elementary School: Erie Elementary School
Jr. High School: John M Andersen Jr High School
High School: Chandler High School
Year Built: 1982
Zoning: MF-2
Legal Info
Range: 5E
Section: 29
Township: 1S
Lot Number: 128
Project Type
Four Plex: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Tile: 1
Rolled: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Other (See Remarks): 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 2340
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 300
Annual Mgmt Exp: 0
Annual Trash Exp: 2844
Annual Wtr/Swr Exp: 888
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Operating Exp: 8016
Other Income: 0
Vacancy Allowance: 0.01
Adjusted Gross Inc: 61776
Total Monthly Rental Income: 5200
Pmt & Rate Info
Cap Rate: 5.48
Equity: 950000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Phone Call: 1
Lockbox Type
Supra: 1
Community Features
No Pool: 1
Heating
Ceiling: 1
Electric: 1
Individual: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Individual: 1
Exterior Amenities
Partially Fenced: 1
Cable TV Available: 1
Sidewalk(s): 1
Separate Storage: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
W/D Hookup: 1
Road Access Type
Alley: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Carport: 1
1 Space/Unit: 1
Paved: 1
Add'l Parking Avail: 1
Assigned: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Cash: 1
VA: 1
Conventional: 1
FHA: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1440
Avg SqFt: 919
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 5000
Seller Concession $/%: $
Remarks Misc
Cross Street: Dobson/Ray
Directions: East on Ray, S. on Arrowhead to 615.
(2nd building N. of Galveston)
Geo Lat: 33.313733
Geo Lon: -111.867279
Status Change Info
Off Market Date: 2024-10-15
Under Contract Date: 2024-10-13
Close of Escrow Date: 2024-12-16
Sold Price: $920,000
Income Expenses
Gross Annual Sch Inc: 62400
Net Operating Income: 52096
Property Features
Project Type: Four Plex
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco
Roofing: Tile; Rolled
Floors: Ceramic Tile
Sale Includes: Land & Building; Other (See Remarks)
Community Features: No Pool
Exterior Amenities: Partially Fenced; Cable TV Available; Sidewalk(s); Separate Storage
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; W/D Hookup
Heating: Ceiling; Individual
Cooling: Ceiling Fan(s); Electric; Individual
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP; Individual Meter
Gas: None
Parking Features: Carport; 1 Space/Unit; Add'l Parking Avail; Assigned; Paved
Road Access Type: Alley
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner
Showing Notification Methods: Phone Call
Lockbox Type: Supra
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
New Financing: Cash; VA; FHA; Conventional
Environmental: None
Listing Office:
West USA Realty
Last Updated: December - 17 - 2024
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